Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

When the Minister of State introduced this Bill, he set out how it involved the transfer of some €6.9 billion from the National Pensions Reserve Fund to the Ireland strategic investment fund, a major proposal by any standard. It is a major proposal in the realm of finance. The Bill was taken on Committee Stage in the Select Sub-Committee on Finance. I would like the Minister of State to tell us why the Minister for Finance is not here to take the Bill in the Dáil. I mean no harm to the Minister of State, but he is a Minister of State at the Department of Communications, Energy and Natural Resources and I want to see the Minister responsible for the NTMA and the key finance issues in the Chamber to answer key questions about how these provisions will work. I would like the Minister of State to provide a rationale for that.

I support the amendment in the name of Deputy Pearse Doherty. It is absolutely correct that any direction made under this Act, which could have serious consequences and results for the various public agencies of the State, should be brought before the Dáil. It should be made explicit in this legislation. Far too much is passed behind the scenes without open accountability to the elected Members. I strongly support the amendment.

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